The FTSE 100 Index closed Friday up 0.2% to 7642.7 points, achieving its best weekly performance since April, amid positive trading in global markets on hopes of more stimulus from China, and the belief that the current cycle of rate increases is close to coming to an end, CMC Markets U.K. chief market analyst Michael Hewson says in a note. Ocado shares continued to recover and led the top-risers closing up 7.4% to 461.9 pence. Shares of the retailer plummeted to 343.4 pence of June 5 on the back of fears that it would leave the index. Among the index top performers, Centrica and CRH rose 2.8% and 2.6% respectively. On the opposite side, Airtel Africa closed down 3.55%


COMPANIES NEWS:

ITV Confirms It Is Considering All3Media Acquisition

ITV confirmed Friday that it was actively exploring the possible acquisition of U.K. film production company, All3Media

---

Currys Mulls Sale of Greek Business Kotsovolos

Currys said Friday it had started a strategic review of Greek business Kotsovolos, and that this could lead to its sale.

---

Tesco 1Q Group Retail LFL Sales Rose 8.2%, Backs FY 2024 Guidance

Tesco on Friday said its like-for-like group retail sales grew 8.2% in the first quarter of fiscal 2024 boosted by volumes and inflation, and reiterated its guidance for the full year.

---

Mears Sees 2023 Profits Materially Ahead of Market Views

Mears Group said Friday that the board expects 2023 profits to be materially ahead of current market expectations.

---

Travis Perkins Lowers Full-Year Profit Guidance on Challenging Market Conditions

Travis Perkins said Friday that is has lowered its full-year profit guidance due to lower volumes in both the new build housing and private domestic repair, maintenance and improvement markets.

---

CT Automotive 2022 Pretax Loss Widened; Confident on Meeting 2023 Views

CT Automotive Group on Friday said its pretax loss widened in 2022 but that it has seen an encouraging start to 2023 as operating conditions stabilize.

---

Invinity Energy Systems Expects Narrower 2022 Pretax Loss Than Anticipated

Invinity Energy Systems said Friday that it expects to report a materially narrower pretax loss and gross margin loss than anticipated for 2022.

---

ASA International Executive Director Aminur Rashid to Retire

ASA International Group said Friday that Executive Director Aminur Rashid will retire as of June 30 to spend time with his family.

---

Peel Hunt Swung to Pretax Loss in FY 2023 on Market Turmoil

Peel Hunt on Friday said it swung to a pretax loss in fiscal 2023, hit by low market activity and subdued investor sentiment, and said it has seen signs of activity picking up as well as a gradual improvement in its M&A pipeline since the start of the new fiscal year.

---

Dukemount Capital 1H Pretax Loss Narrows, Needs Extra Funds To Operate Beyond 12 Months

Dukemount Capital on Friday said its pretax loss for the first half of fiscal 2023 narrowed and that it will need extra funding to continue operating beyond the next 12 months.

---

IAG Launches Buyback Program of Up to EUR35 Mln

International Consolidated Airlines Group said Friday it had agreed to launch a buyback program of up to 35 million euros ($38.3 million) for share awards to executives and employees under its share-based incentive plans.


MARKET TALK:

UK Interest Rates Might Hit 6% if Inflation Fails to Ease

1242 GMT - U.K. interest rates could hit 6% if policymakers fail to tame stubborn inflation, AJ Bell says. The latest readings for core U.K. inflation and wage growth have come in hot and that has spooked the market, boosting gilt yields and raising expectations of more interest-rate hikes to come, Bell says. Still, the Bank of England has a dilemma in that higher rates could hit mortgage borrowers, Bell says. "The market's now firmly pricing in an interest-rate rise at the BOE Monetary Policy Committee's June meeting and then four further hikes, taking us to 5.75%," Bell's head of investment analysis Laith Khalaf writes. "A few hawkish BOE comments, or some more ugly inflation data, could easily tip those expectations up to 6%." (philip.waller@wsj.com)


Contact: London NewsPlus, Dow Jones Newswires;


(END) Dow Jones Newswires

06-16-23 1211ET